Singapore’s ADBC signs MoU with Tencent Cloud
Singapore’s Asia Digital Bank Corporation (ADBC) has signed a memorandum of understanding with Tencent Cloud.
The two firms are collaborating on cloud-based financial services and “joint innovations towards a data-driven digital bank”.
“ADBC believes in delivering contextualised personal experiences to its customers,” says Nelson Goh, board director at ADBC.
“Doing this via cloud-based technology will result in an end-to-end, frictionless, and seamless process that connects internal core banking and legacy systems, complementary products, and cognitive system providers.”
Tencent Cloud is the cloud computing arm of Chinese tech giant Tencent. The firm claims to operate in 25 regions around the world.
The cloud company has been pushing its services to companies outside of its Chinese base. Earlier this year it signed a similar MoU with Etihad Airways.
In Singapore, Tencent Cloud has achieved an Outsourced Service Provider Audit Report (Ospar) rating. Joining that group makes it one of a group of companies accredited by the Association of Banks in Singapore.
“We are excited to explore our collaboration with ADBC in creating cloud-based financial services, and together innovate in building a data-driven digital bank in Singapore,” says Poshu Yeung, vice president of Tencent Internal Business Group.
“With our recent achievement of attaining the Ospar standard, we are much more confident that our cooperation with ADBC will showcase our capability to provide secure, high-quality cloud services.”